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Archive for July, 2013
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Meanwhile Over At The Woodshed

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July 31, 2013

Meanwhile Over At The Woodshed

While equities have been pushing sideways for over a week it’s been rather tumultuous intra-day with wild swings and spasmodic gyrations aimed at running stops and wearing out any remaining summer participants. Personally I have no dog in this fight and when I see technical setups fail three or four times in a row I usually step away and focus my attention on easier victims.

The upside of all that back/forth is that we were graced with a daily Net-Line Buy Level at 1,695.25 – and thus far it has proven to be impenetrable. If you can get inversely positioned nearby then odds are you are able to enjoy a ride to the other side of the fence. Which until [...]

6304
 

Looking A Bit More Productive

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July 31, 2013

Looking A Bit More Productive

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

At least the sideways tape from hell we’ve had to endure for the past few sessions is starting to bear fruit as we now can establish a clear and present horizontal resistance line near 1687.5. Unfortunately any tape in between is only good for swing trading and for that I refer you to our trusted Zero indicator:

Two observations [...]

3310
 

One Measly Chart

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July 30, 2013

One Measly Chart

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Across the spectrum the tape is looking a bit aimless early this morning. IMNSHO the only chart worth mentioning appears to be the E-Mini which is back at the 1687 sell off zone that has produced a slightly falling sequence of unconquered NLBLs starting last Thursday. Well, this time we are actually above the current NLBL of 1686.25, so perhaps after [...]

4112
 

Dreaded Summer Tape

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July 29, 2013

Dreaded Summer Tape

And I’m being polite here as my favorite expletives somehow don’t do the low volume summer sideways churn much justice. I’m not very inspired to participate on the equities side at this point but there’s a setup on the map and being your resident Market Mole I’m somewhat obligated to report it:

Unless the E-Mini starts getting its groove on in the next two hours we’re probably going to finish the day with an inside candle. Which puts us officially in bi-directional entry mode – short on the low and long on the high trigger.

However, although I may play a breach I’m going to use very small position sizing [...]

3502
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